Book list: The books a bunch of finance luminaries recommend from 2015 including Rise of the Robots by Martin Ford. (Bloomberg)
Quote of the Day
"The bottom line is that, while low grade corporate bonds almost always blow out on the cusp of of early stages of a recession, the converse is not true. You can have a junk bond blowout without triggering or indicating a recession."
(NDD)
Chart of the Day
2015 has been an unusual year for high yield because such poor returns usually only occur in recessions.
Markets
- There's not much in the way of positive asset class performance in the past year. (capitalspectator.com)
- Dividend cuts are picking up. (politicalcalculations.blogspot.com)
Strategy
- Why you should take a Fed rate hike in stride. (basonasset.com)
- Wall Street forecasts are pretty much useless. (pragcap.com)
- Why pick winners when it is just as profitable to avoid the losers. (valueandopportunity.com)
- Junk bonds go through periods of volatility. (awealthofcommonsense.com)
- 25 traders to follow on Twitter. (newtraderu.com)
Offers
- Dedicated e-book readers you can get $20 off the Kindle or Kindle Paperwhite for a limited time. (amzn.to)
- MODERN TRADER Magazine—the essential journal for professional traders and active investors. Get one of five investment classics with this special subscription offer! (moderntrader.com)
Apple
- Why is Apple ($AAPL) bothering with an "ugly, underpowered" battery case? (slate.com)
- Apple ($AAPL) a self-reinforcing profit machine. (appleinsider.com)
- Apple ($AAPL) Music is getting deeper into the Taylor Swift business (recode.net)
Companies
- There are no shortage of plans to fix Yahoo ($YHOO). (wsj.com)
- To start Yahoo ($YHOO) should stop wasting money on failed startups. (businessinsider.com)
- The sad story at Biglari Holdings ($BH) rolls on. (inelegantinvestor.com)
- Consumer pricing is going dynamic. (wsj.com)
Finance
Funds
- On the advantages of bond ETFs vs. bond mutual funds. (etf.com)
- A buying opportunity is setting up in junk bond ETFs. (fmdcapital.com)
- A hedge fund manager who makes money shorting leveraged ETFs. (reuters.com)
- Are junk bond ETFs doing what they are supposed to? (thereformedbroker.com)
Economy
- The Fed has only one crack at this liftoff thing. (economistsview.typepad.com)
- Why interest rates could stay low for a long time to come. (mobile.nytimes.com)
- What 1099 forms tell us about the rise of the "gig economy." (bloombergview.com)
Earlier on Abnormal Returns
- Research links: the pain train. (abnormalreturns.com)
- What you may have missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks this week on the site. (abnormalreturns.com)
- A house is an asset not an investment. (abnormalreturns.com)
